Report: Japanese Messaging App Line to Launch $10 Billion IPO

Takeshi Idezawa, chief operating officer of Line Corp., speaks during a news conference in Tokyo, Japan, on Wednesday, Feb. 26, 2014.

Line, the Japanese company famous for its popular messaging app, filed for an IPO in the $10 billion range, according to a report.
CNBC and Reuters report that the company, owned by South Korea's Naver Corp., filed for the public offering about two weeks ago on the Tokyo Stock Exchange at 1 trillion yen ($9.85 billion). Reuters adds that Line is considering a dual listing in New York. Reps from Line could not be reached for confirmation.

The IPO would come after Facebook announced it planned to purchase messaging app WhatsApp in February. That deal is still pending as European Union antitrust officials examine the deal.
In November, Line announced it had 300 million registered users, versus 500 million monthly active users for WhatsApp.

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